Chevron Corp. slashed Chairman and Chief Executive Officer John Watson’s compensation by 25 percent after oil and natural gas output by the second-largest U.S. energy producer tumbled to a five-year low.
An icy rain is pelting about 30 protesters who’ve converged at the gate of a natural gas drilling site near Manchester, England. On the other side of a fence topped with razor wire, a 10-story-high rig is boring into shale to determine if it’s suitable for hydraulic fracturing, or fracking. The demonstrators unfurl a banner: “Fracking will poison our children.”
Blazing gas flares 70 meters high brighten the night sky above Qatar’s Ras Laffan Industrial City. The 295-square-kilometer complex houses the world’s largest assemblage of liquefied natural gas plants and the biggest port for LNG exports on the globe. Ras Laffan chills to a fluid more gas in a year than Canada consumes and then ships it to run electric plants and warm homes from Tokyo to Buenos Aires. The gas facilities within its grounds produce almost a third of the world’s LNG exports, Bloomberg Markets will report in its May issue.
Sutherland Asbill & Brennan LLP is combining with Arbis LLP, a boutique law firm with offices in London and Geneva that features a strong energy practice, to give the U.S. firm its first international offices.
Chevron Corp. won a U.S. judge’s ruling that a multibillion-dollar pollution judgment issued in Ecuador was procured by fraud, making it less likely that plaintiffs will collect the $9.5 billion award.